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NH man charged with embezzling $341G from Westford company

The Lowell Sun

Posted:
04/04/2014 02:47:49 PM EDT

WOBURN -- A New Hampshire man has been indicted on charges that he embezzled $341,000 from a Westford company that he allegedly used to pay for trips, jewelry, items from Apple iTunes Store and a 2013 Jeep.

An arraignment date in Middlesex Superior Court has not yet been scheduled.

According to investigators, Donovan was working in the accounting department at Puma North America in Westford, when he allegedly devised a scheme where he manipulated expense reports to steal money from the company.

It is alleged that from November 2012 to June 2013, Donovan improperly created and approve numerous expense reports in the names of other employees. He allegedly abused his access to the company's systems and configured payments made to those employees to be deposited directly into his own personal bank account.

After receiving a total of $341,000 in stolen funds, it is alleged that Donovan engaged in transactions to conceal the origin of the stolen money. It is alleged that Donovan used the stolen money to buy a 2013 Jeep Grand Cherokee and also to pay for travel, jewelry, and purchases at the Apple iTunes Store.

The alleged theft was discovered by Puma accountants after Donovan had no longer worked for the company.